Japan's Governance: 2 Disclosures on August 23 (Case: Yamaha's Sale of Policy Shares & ShareBuyback)
Showa Denko posted its new capital issue, while Yamaha announced the sale of its policy stock holdings and repurchase of its own shares. In this...
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Short Roland/Long Yamaha as Roland May Fail to Meet Demand Due to Production Shortages
While demand for musical instruments soars across the world, COVID-19 lockdowns in Malaysia continues to affect Roland’s production capabilities....
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Roland Returns at Cheaper Multiples: Not Going to Sing Well With Yamaha
Yamaha’s biggest competitor, Roland, is scheduled to make a return to the first section of Tokyo Stock Exchange on 16th December 2020. Roland is...
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Roland IPO: Valuation
We would avoid the Roland IPO on long term fundamentals. However, Roland is an excellent hedge for a short position in Yamaha, whose valuation...
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Roland IPO Valuation: Cyclicality Unaccounted For
Roland is an iconic brand name that holds a leading position in the musical equipment industry, and the company’s return to the TSE after a six...
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